Governance, Risk Management and Internal Audit

Governance, Risk Management and Internal Audit

With the rapid changes in business environment, it is imperative that management would need to accept certain business risk in order to meet its business objectives. Nexia TS’s Governance, Risk Management and Internal Audit division would be able to assist you in managing your business risk acceptable to your organisation so that you could “sleep soundly” at night.

We provide the following services:

Enterprise Risk Management

Enterprise risk management (ERM) includes the methods and processes used by organisations to manage risks and seize opportunities related to the achievement of their objectives. We are able to assist management to table a framework for risk management, which typically involves identifying particular events or circumstances relevant to the organisation's objectives (risks and opportunities), assessing them in terms of likelihood and magnitude of impact, determining a response strategy, and monitoring progress. By identifying and addressing the identified risks and opportunities, your organisation is able to protect and create value for your stakeholders, including owners, employees, customers, regulators, and society overall.

Control Self Assessment

Control Self Assessment (CSA) is a method used to allow staff and business units in the organisation (that is, those directly involved in business units, functions or processes) to participate in assessing the organisation's risk management and control processes. We will facilitate CSA programs for gathering relevant information about risks and controls; for focusing audit work on high risk, unusual areas; and to forge greater collaboration with operating managers and work teams. Managers can utilise CSA programs to clarify business objectives and to identify and deal with the risks in achieving those objectives.

Internal Audit Co-sourcing

The traditional internal audit approach is very much compliance-based and often resulted in limited scope being covered and/or failure to address key risks. Our risk-based integrated approach helps to define key risks (“those that really matters”) from the start, protect important business functions/drivers and ultimately achieve organisational objectives. By flagging out all significant risks early and addressing them in a timely manner, we help our clients achieve their business objectives.

We could work independently (outsourcing) or in concert with your existing internal audit department (co-sourcing) to supplement your organisation’s requirements.

A primary value of internal audit is to help identify innovative ideas and recommend the best practices to give businesses the competitive edge while at the same time continue to meet both the traditional and evolving expectations of the audit committee.

Pre-Listing Internal Control Reviews

Often, private companies seeking to list on the stock exchange would be required to demonstrate that there is a robust system of internal controls in the daily business operations. These include internal controls to address operational, financial and compliance risks. Being a frequent partner of listing projects, we have an experienced team who understand the stringent requirements to carry out such reviews.

Sustainability Reporting

The Singapore Stock Exchange (SGX) has issued a “Guide to Sustainability Reporting for Listed Companies” in 2011 and subsequently on 5 January 2016, a consultation paper was issued on “Sustainability Report: Comply or Explain”, where primary listed issuers on both SGX Mainboard and Catalist need to issue their sustainability report on a comply or explain basis from financial year ending on or after 31 December 2017. The affected issuers must issue their Sustainability Report on an annual basis within 5 months of the end of their financial year.

Nexia TS is well-positioned to assist your company to meet the requirements for sustainability reporting. To learn more, download the service brochure for details.

Our Services

Key Contacts

Mr Chin Chee Choon
Assurance and Advisory
Mr Gary Ng
Director, Internal Audit
& Risk Management
Ms Pamela Chen
Director, Internal Audit,
Risk Management
& Sustainability Reporting

Nexia Global Insight

July 2017

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April 2017

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January 2017

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